Helsinki-based Uute Scientific, a startup drawing from both ecology and medicine, has completed a EUR 1.2 million funding round. Completed as convertible loans, the round was led by the existing investor Butterfly Ventures, and Tesi (Finnish Industry Investment Ltd) as well as existing shareholders also invested. The funding enables the company to pursue even faster growth and development.
Uute manufactures microbial extract that mimics to the microbial community found in nature. When added to various consumer products, such as cosmetics and textiles, the users are naturally exposed to beneficial microbe in everyday life even when it is not possible, for instance, in an urban environment.
Tesi invested in the company from its Venture Bridge special investment programme.
Tesi (Finnish Industry Investment Ltd) is a state-owned investment company that wants to raise Finland to the front ranks of transformative economic growth by investing in funds and directly in companies. We invest profitably and responsibly, hand-in-hand with co-investors, to create the world’s new success stories. Our investments under management total 2.1 billion euros. www.tesi.fi | @TesiFII